Seoul shares turn higher late Tuesday morning on tech gains
SEOUL, Aug. 11 (Yonhap) -- South Korean shares turned higher late Tuesday mornin...
Seoul's stock market saw a late morning rally on Tuesday as foreign investors snapped up large-cap technology shares on bargain prices. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 0.53 percent to 6,333.03 after opening 0.95 percent lower. Foreign investors purchased a net 1.29 trillion won worth of shares, counteracting a combined 1.13 trillion-won sell-off from retail and institutional investors.
On Monday, U.S. markets slipped from their previous record highs due to oil price increases stemming from uncertainty over the Strait of Hormuz's reopening to shipping. The S&P 500, Dow Jones, and tech-heavy Nasdaq Composite all ended down around 0.1 percent. In Seoul, most major shares saw mixed results. Samsung Electronics, a market bellwether, gained 3.26 percent, while chipmaker SK hynix fell 0.63 percent.
At 11:20 a.m., the Korean won was at 1,415.8 won per U.S. dollar, up 2.5 won from the previous day's close.
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- Seoul shares turn higher late Tuesday morning on tech gains koreatimes.co.kr